Gold hits a fresh all-time high ahead of US CPI.
The economists predict a 3.7% y/y jump in core
CPI from 3.8% the previous month. Core CPI is
expected to come in at 0.30% m/m vs. 0.40% in
Februaryy
According to the CME Fed watch tool, the
probability of a 25 bpbs rate cut in June
decreased to 50.8% from 61.5% a week ago.
Technical:
The near-term support is around $2340, a
break below targets of $2318/$2300. The yellow
metal faces minor resistance around $2365
and a breach above will take it to the next level
of $2400/$2420.

Signal
Sell $2365 with SL around $2400 for TP of $2320.
Buy $2320 with SL around $2300 for TP of $2400.